What style or system works best with full-time job?

[Megatrader873]

Hi all

Well, I haven't lasted long trading the Dow. I'm a real newbie and have realized that the amount of attention required by this wildly gyrating beast is not for me right now. Also, I think the stops need to be so wide with the volatility in the market that it just doesn't add up with proper money management on a fairly small 'starter' spread-betting account. I'd really love to hear from other members who have full-time jobs where you can't have your heads in the market during the day. I work in a completely different field where I have to have my focus on other things and also can't sit watching the screen for the New-York evening session. What kind of trading do you do? What works for you? If you swing and/or position trade, what do you trade? Do you find that checking your stops once a day in the evening is enough to manage your trading successfully? Do you use an automated trading system? Are there any books that are particularly good to help set up a trading business that is run only in the evening and on weekends?

I've scoured the site looking for a thread particularly on this topic - sorry if I missed it.

MT

 

[Atilla]

Hi all

Well, I haven't lasted long trading the Dow. I'm a real newbie and have realized that the amount of attention required by this wildly gyrating beast is not for me right now. Also, I think the stops need to be so wide with the volatility in the market that it just doesn't add up with proper money management on a fairly small 'starter' spread-betting account. I'd really love to hear from other members who have full-time jobs where you can't have your heads in the market during the day. I work in a completely different field where I have to have my focus on other things and also can't sit watching the screen for the New-York evening session. What kind of trading do you do? What works for you? If you swing and/or position trade, what do you trade? Do you find that checking your stops once a day in the evening is enough to manage your trading successfully? Do you use an automated trading system? Are there any books that are particularly good to help set up a trading business that is run only in the evening and on weekends?

I've scoured the site looking for a thread particularly on this topic - sorry if I missed it.

MT

Hi MT,

I check in the mornings before setting off to work, lunch and after market opens around 14-15:00 and then again before leaving work and again in the evenings.

I usually open a trade before going into work or leaving work if the setup looks at the extremes and DEMAs price and indicators line up.

You need a bigger margin and more recently I've been placing some calls without setting SL. Although I do have mental SL in mind when setting up trades.

Best is to start Weekly - Daily and 4 hourly charts. 4 Hourly charts the best imo.

If trading in the evenings then I use hourly - 15 - 10 - 5 and 1 min charts. However, then you are glued to the screen.

Good luck.

 

[Megatrader873]

Thanks Atilla - looks like the discipline of regular times to check through the day is a good practice to get into - bit of a challenge, though! So you stay ahead with the Dow (and what about other indices) doing this? Do you trade other things this way too?

MT

 

[superspurs]

hi i work full time,trade dow from 6pm,no indicators,look for 20-30 pts a time GET OUT.based on the trend is your friend,defined by a 35 pt p&f chart 1 hr,it tells me to be long or short and where my change of direction is.i let the trend work for me,sometimes the drawdown can be big but the trend mostly saves you.i enter on pullbacks to the 10 or 20 ma on a 5 min chart.i read people on the dow thread and i sometimes think they want to be economists.keep it simple

 

[Crap Buddist]

hello is that big boss? yes, im terribly ill, 6 months off im afraid

Hi all

Well, I haven't lasted long trading the Dow. I'm a real newbie and have realized that the amount of attention required by this wildly gyrating beast is not for me right now. Also, I think the stops need to be so wide with the volatility in the market that it just doesn't add up with proper money management on a fairly small 'starter' spread-betting account. I'd really love to hear from other members who have full-time jobs where you can't have your heads in the market during the day. I work in a completely different field where I have to have my focus on other things and also can't sit watching the screen for the New-York evening session. What kind of trading do you do? What works for you? If you swing and/or position trade, what do you trade? Do you find that checking your stops once a day in the evening is enough to manage your trading successfully? Do you use an automated trading system? Are there any books that are particularly good to help set up a trading business that is run only in the evening and on weekends?

I've scoured the site looking for a thread particularly on this topic - sorry if I missed it.

MT

How goods the company sick scheme ? you know what I'm thinking ? hmm if you have to trade then you will have to trade, depends how bad you want it ? over the next few years or so maybe resize your life so you can position to be available to trade or study to trade. Do what you must for you good luck chief.

 

[charliechan]

well if you dont feel you can afford put in some regular time, maybe you should try long term investing, picking up dividend, studying fundamentals when you do have time, and if appropriate, verify with the technicals you may have learnt. canslim?

obviously you will have to use the cash market rather than spread betting. but thats a good thing and will make the cost of less transactions with a load of small losses more appealing. but thats another thread - probably already done!

 

[black bear]

How goods the company sick scheme ? you know what I'm thinking ? hmm if you have to trade then you will have to trade, depends how bad you want it ? over the next few years or so maybe resize your life so you can position to be available to trade or study to trade. Do what you must for you good luck chief.

Bad Lad,

I no the feelin well , TIME that is IMO the Biggy.

My Dad told me not to waste it when I was a wee boy, how right he was.

 

[black bear]

hi i work full time,trade dow from 6pm,no indicators,look for 20-30 pts a time GET OUT.based on the trend is your friend,defined by a 35 pt p&f chart 1 hr,it tells me to be long or short and where my change of direction is.i let the trend work for me,sometimes the drawdown can be big but the trend mostly saves you.i enter on pullbacks to the 10 or 20 ma on a 5 min chart.i read people on the dow thread and i sometimes think they want to be economists.keep it simple

Could not agree more,

Your P&f chart, make it yourself old way or have you software which is not my strong point

 

[Crap Buddist]

Bad Lad,

I no the feelin well , TIME that is IMO is the Biggy.

My Dad told me not to waste it when I was a wee boy, how right he was.

yeah just my humour. But if people go into trading or want to get into it then life commitments at that time can be a big consideration. ie current jobs, family, etc etc.

I think the individual will know within whether or not sh/e simply has no choice but to make themselves available to study/trade. Perhaps you need that inside to keep you at it. ? I think a year or 2 full time availability will help, can people organise a year or 2 out ? . easier for some over others maybe, age, lifestyle, but, yeah they want it bad enough, just about choices, some of them may well be very,very selfish ones too I expect.

 

[black bear]

Hi all

Well, I haven't lasted long trading the Dow. I'm a real newbie and have realized that the amount of attention required by this wildly gyrating beast is not for me right now. Also, I think the stops need to be so wide with the volatility in the market that it just doesn't add up with proper money management on a fairly small 'starter' spread-betting account. I'd really love to hear from other members who have full-time jobs where you can't have your heads in the market during the day. I work in a completely different field where I have to have my focus on other things and also can't sit watching the screen for the New-York evening session. What kind of trading do you do? What works for you? If you swing and/or position trade, what do you trade? Do you find that checking your stops once a day in the evening is enough to manage your trading successfully? Do you use an automated trading system? Are there any books that are particularly good to help set up a trading business that is run only in the evening and on weekends?

I've scoured the site looking for a thread particularly on this topic - sorry if I missed it.

MT

Hi Megatrader,

You could try Swing trades on individual Stocks, far less time required, and a bit more forgiving unless your in Northern Rock.

Advantage ~ you get a real feel for a stock after a while, which helps, A LOT

You must obviously be directed by the Index current trend (plenty of info on site and books etc)

 

[SAINT]

Megatrader, you should also have a look at FX as there are good practice accounts available and it trades 24hr so there's less pressure on getting in. Gives you time to come home, read the news, look at the charts etc.

 

[superspurs]

Could not agree more,

Your P&f chart, make it yourself old way or have you software which is not my strong point

i use CMC

 

[black bear]

i use CMC

Thanks for that, will check it out

 

[timsk]

. . . based on the trend is your friend,defined by a 35 pt p&f chart 1 hr,it tells me to be long or short and where my change of direction is.i let the trend work for me. . .

Yo Superspurs,
You and I have something in common:- as far as I can make out, of the 75,000+ T2W members, there's only about 6 of us that use P&F charts! Out of interest, I'm confused by the '1 hr' time reference - could you expand on this please?
Cheers,
Tim.
(Apologies to MegaT'873 for going off topic).

 

[black bear]

Yo Superspurs,
You and I have something in common:- as far as I can make out, of the 75,000+ T2W members, there's only about 6 of us that use P&F charts! Out of interest, I'm confused by the '1 hr' time reference - could you expand on this please?
Cheers,
Tim.
(Apologies to MegaT'873 for going off topic).

aaa" mmm" 7

ye I was wonder in about that to. I don"t use em intra day, but do like to take a look at ones posted on Ftse Swing.

 

[superspurs]

Yo Superspurs,
You and I have something in common:- as far as I can make out, of the 75,000+ T2W members, there's only about 6 of us that use P&F charts! Out of interest, I'm confused by the '1 hr' time reference - could you expand on this please?
Cheers,
Tim.
(Apologies to MegaT'873 for going off topic).

my chart is a 1 hourly with a 35 pt box (0.25%)3 box reversal.hope this helps

 

[Megatrader873]

Hi Devilbis, Saint

Many thanks for your suggestions. BTW, I can't take a year or two out to try trading full-time right now, so I'm going to look more into swing trading individual shares, and also have a look at forex which it seems as though you can dip in and out of at your own convenience.

And what's a P&F chart? How are they helpful? Do they make the analysis of individual shares more reliable? I take the point to always follow the trend of the main index when trading individual shares - ie, not shorting an individual share during a bull market, and vice versa.

Does anyone else have more detailed descriptions of how they manage trading with a full-time job? It was very interesting hearing about Atilla's daily schedule!

MT

 

[black bear]

Hi Devilbis, Saint

Many thanks for your suggestions. BTW, I can't take a year or two out to try trading full-time right now, so I'm going to look more into swing trading individual shares, and also have a look at forex which it seems as though you can dip in and out of at your own convenience.

And what's a P&F chart? How are they helpful? Do they make the analysis of individual shares more reliable? I take the point to always follow the trend of the main index when trading individual shares - ie, not shorting an individual share during a bull market, and vice versa.

Does anyone else have more detailed descriptions of how they manage trading with a full-time job? It was very interesting hearing about Atilla's daily schedule!

Hi Megatrader,

P&F , Yes Very, check out FTSE swing thread , well informed good thread and plenty of P&F charts posted. Work well on individual shares, probably better than indexs IMO.

http://www.marcrivalland.com/ good link, not sure supposed to post commercial link, but not connected in anyway and a lot of free info from book on p&f.

I work part time and still at err improver stage but doing OK. Does get a real pain if you want to trade intra day if you have busy life. I must be a bit unlucky, you always seem to miss move if your part time and it does your NUT in

IMO best on Swings using normal and P&F charts , read up on EVERYTHING then have a month to recover and digest. If your a complete beginner then I would suggest taking advantage of one of the SB firms that have a demo account and then allow minimum per pt stakes till you find your feet. Even at £1 or £2 a pt you, well you can work it out, if your using in the region of 50 pt stops, you still need a reasonable bank to trade safe.

Individual shares are safest and require least time IMO, and you learn plenty at a more sedate pace.

Forex, cant comment not attemted to trade them pairs

Leave the Dow alone at 1st

 

[the blades]

Hi all

Well, I haven't lasted long trading the Dow. I'm a real newbie and have realized that the amount of attention required by this wildly gyrating beast is not for me right now. Also, I think the stops need to be so wide with the volatility in the market that it just doesn't add up with proper money management on a fairly small 'starter' spread-betting account. I'd really love to hear from other members who have full-time jobs where you can't have your heads in the market during the day. I work in a completely different field where I have to have my focus on other things and also can't sit watching the screen for the New-York evening session. What kind of trading do you do? What works for you? If you swing and/or position trade, what do you trade? Do you find that checking your stops once a day in the evening is enough to manage your trading successfully? Do you use an automated trading system? Are there any books that are particularly good to help set up a trading business that is run only in the evening and on weekends?

I've scoured the site looking for a thread particularly on this topic - sorry if I missed it.

MT

Hello Megatrader,

I'd consider holding a portfolio of stocks based on fundamental criteria - using stock screens. You could then look at chart analysis to gain better entries and exits to the buys and sells thrown out by the screens.

If you can trade US stock, look at the screens at aaii.com. For about £100 per year you can subscribe to stock-investor pro and dowload the weekly updates each Sunday. Screen the charts on Sunday evening and place limit orders for buys and sells.

During the week you'll need an ocassional look to make sure your portfolio size is maintained (cancelling a few orders along the way). Other than that, sit back and plan your retirement. Well, sort of....

UTB

 

[timsk]

my chart is a 1 hourly with a 35 pt box (0.25%)3 box reversal.hope this helps

Thanks SuperS' - I'm just not thinking. (Nothing new there. )
Only having access to e.o.d charts, I forget intra-day P&F charts even exist!In fact, I'm not sure I've ever seen one - perhaps you'd care to post one? It'll probably be a first on T2W!
Cheers,
Tim.